Manufacturing Industry
Berry Plastics investigates financial options package.(Brief Article)(Statistical Data Included)
Plastics News, March, 2002 by Pryweller, Joseph
To help it stay on its growth curve, Berry Plastics Corp. is exploring financial alternatives that could include selling the company. The consumer-packaging company has retained investment banking firms J.P. Morgan Securities Inc. and Credit Suisse First Boston to help Berry evaluate its financial package, said Ira Boots, Berry president and chief executive officer.
No time line has been set for a decision, Boots said in a March 21 telephone interview. Berry decided to explore options after more than tripling sales in the past five years, Boots said. The firm is seeking about $831 million, or about 71/2 times its 2001 earnings before interest, depreciation, taxes, and amortization, according to several sources familiar with the negotiations. The company...
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